{"id":2344,"date":"2022-02-27T00:00:00","date_gmt":"2022-02-27T00:00:00","guid":{"rendered":"https:\/\/loopchicago.local\/press-releases\/report-shows-loop-as-fastest-growing-chicago-neighborhood-chicago-with-fastest-growing-downtown-in-u-s\/"},"modified":"2022-02-27T00:00:00","modified_gmt":"2022-02-27T00:00:00","slug":"report-shows-loop-as-fastest-growing-chicago-neighborhood-chicago-with-fastest-growing-downtown-in-u-s","status":"publish","type":"press_release","link":"https:\/\/loopchicago.com\/es\/press-releases\/report-shows-loop-as-fastest-growing-chicago-neighborhood-chicago-with-fastest-growing-downtown-in-u-s\/","title":{"rendered":"Report shows Loop as fastest growing Chicago neighborhood, Chicago with fastest growing downtown in U.S."},"content":{"rendered":"

Press contact: <\/strong>Jessica Cabe | PR and Communications Manager, Chicago Loop Alliance jessica@chicagoloopalliance.com | 312-782-9160<\/p>

MEDIA:<\/strong> Photos and video available for download<\/a><\/p>

SOCIAL:<\/strong> #BackInTheLoop    #inTheLoopChi   
@loopchicago<\/a>     @ChicagoLoopAlliance<\/a>    @ChiLoopAlliance<\/a>     @Chicago-Loop-Alliance<\/a><\/p>

FOR IMMEDIATE RELEASE: Oct. 19, 2021<\/strong><\/p>

CHICAGO\u2014<\/strong>Chicago Loop Alliance today released a new report, \u201cThe Chicago Loop\u2019s New Demography: Reviewing Change from 2010-2020,\u201d based on U.S. Census data. The report shows the Loop is the fastest growing Chicago neighborhood, and Chicago\u2019s downtown is the fastest growing in the United States. View the report here<\/a>.<\/p>

\u201cThe pandemic showed us the importance of the Loop continuing to trend toward a mixed-use district with a healthy residential population to support the storefront economy,\u201d said Chicago Loop Alliance President and CEO Michael Edwards. \u201cThis is a trend we\u2019ve seen in downtown Chicago for years, but the Census data puts hard numbers to the idea and shows just how fast this residential growth is happening\u2014faster than any other Chicago neighborhood. And Chicago has had the fastest-growing downtown in the country for 30 years, a testament to the opportunities and amenities our central district offers.\u201d<\/p>

Despite concerns early in the pandemic that COVID-19 would drive downtown residents to the suburbs, the Loop\u2019s residential growth has continued in 2021.<\/p>

\u201cBased on the unprecedented rental velocity we\u2019ve seen in downtown Chicago this year, I\u2019m not surprised to hear the Loop is leading the pack as the fastest-growing Chicago neighborhood,\u201d said Ben Creamer, co-founder and managing broker of Downtown Apartment Company. \u201cWe continue to see tremendous job growth in the city\u2019s urban core, and that has led to an influx in relocations from out of state, as well as a higher-than-normal demand from locals looking for apartment homes located in the heart of the city. One common thread among the renters driving this growth is the desire to live close to restaurants and work\u2014even if they aren\u2019t in the office every day\u2014and that has led to a healthy recovery of the downtown rental market, where we\u2019ve already eclipsed 2020 with the number of new leases signed in the Loop and seen rental rates rise by 17-29 percent, depending on the size of the unit.\u201d   <\/p>

Highlights from the report include:<\/p>